Proxy Voting Guidelines

PROXY VOTING

OVERVIEW

Azzad Asset Management Inc. (“Azzad”) has adopted written proxy voting policies and procedures in compliance with Rule 206(4)-6 of the Investment Advisers Act of 1940. Azzad votes proxies for client securities over which it has authority in a manner solely in the best interest of clients and consistent with its fiduciary duty and ethical investment philosophy.

Azzad relies on a third-party proxy voting service provider to facilitate proxy voting and maintain required proxy statements and records of votes. Azzad has obtained an undertaking from the service provider to provide copies of such records promptly upon request, in accordance with Rule 204-2.

Azzad remains responsible for:

• Oversight of proxy voting activities
• Maintaining internal proxy voting policies and procedures
• Retaining documents material to proxy voting decisions
• Retaining client requests regarding proxy votes and responses thereto

Clients may request information regarding how proxies were voted and a copy of Azzad’s proxy voting policies and procedures at any time.

PROXY VOTING GUIDELINES

Azzad votes proxies in the manner we believe is in the best interest of clients and consistent with its fiduciary duty and ethical investment philosophy. Votes are cast by a designated employee who is independent of portfolio management, in accordance with the procedures outlined above.

Our proxy voting guidelines focus on the following three issues we believe help enhance long-term financial results while supporting broader social goals. These areas were selected because they align with Azzad’s ethical investment philosophy and long-term shareholder value, reflecting Azzad’s commitment to sustainable and ethical investing:

1. Promoting human rights and economic development
2. Ensuring responsible executive compensation and corporate accountability
3. Responding to environmental challenges

In accordance with Rule 206(4)-6 under the Investment Advisers Act of 1940, Azzad considers its broader business philosophy, the values and priorities of its clients, and the potential financial impact of a proposal when voting on issues not explicitly addressed in these guidelines. These guidelines summarize Azzad’s positions on issues of concern to ethical investors and provide general guidance on how Azzad will vote clients’ shares. Votes are documented and reported for Form N-PX filing in compliance with Rule 30b1-4 under the Investment Company Act, ensuring transparency of proxy voting for funds under management.

Azzad reviews each proposal in context and votes in the best interest of its clients. Votes may differ from the positions outlined in these guidelines when deemed necessary to fulfill fiduciary duties.

Note on Fiduciary Discretion

While the following guidelines outline Azzad’s typical voting approach, the Firm retains full discretion to vote proxies differently when necessary to act in the best interest of clients. Each proposal is reviewed on a case-by-case basis, and votes may deviate from these guidelines if required to fulfill our fiduciary obligations.

See How We Vote on Proxies

Azzad believes transparency is important for our investors. Our mutual funds’ proxy voting records are publicly filed each year with the U.S. Securities and Exchange Commission (SEC) on Form N-PX. These filings show how we voted on shareholder proposals and corporate matters for the companies held in our funds.

You can view the most recent proxy voting record here: Azzad Funds N-PX Proxy Voting Records and Azzad Asset N-PX Proxy Voting Records.

POLICY POSITIONS

Social Proposals

• Pharmaceutical Access & Affordability: Support resolutions requesting companies implement policies to promote affordable drug pricing and expand access to medicines globally.
• Healthcare Quality & Patient Safety: Support resolutions requesting healthcare providers or companies to disclose patient safety metrics, health outcomes, and access practices.
• Reproductive Health Benefits: Support policies that ensure employee access to reproductive healthcare and respect for individual rights.
• Tobacco, Vaping, and Harmful Products: Support resolutions restricting corporate investments in, or sales to, companies producing harmful products, including tobacco, e-cigarettes, vaping products, and other addictive substances. Encourage transparency on related public health risks.
• Political Contributions & Non-Partisanship: Support resolutions enhancing transparency of corporate political spending and encouraging non-partisan engagement.

Workplace Issues

• Diversity, Equity, and Inclusion (DEI): Support resolutions promoting workforce diversity, equity, inclusion, and equitable pay practices, alongside anti-discrimination policies.
• Labor Rights & Ethical Supply Chains: Support resolutions requiring companies to adopt and report on codes of conduct covering fair wages, safe working conditions, prevention of forced labor, and respect for workers’ rights globally.

Environment

• Climate Change & Sustainability: Support resolutions requesting disclosure of environmental impact, greenhouse gas emissions, and energy use; encourage reductions in emissions, improved energy efficiency, and investments in renewable energy.
• Environmental Transparency & Risk Management: Support resolutions requesting disclosure of environmental risks, including high-impact operations such as hydraulic fracturing, and encourage mitigation strategies.
• Responsible Sourcing & Product Transparency: Support resolutions requiring companies to disclose the use of genetically engineered organisms and adopt responsible sourcing and ingredient transparency practices.

International Operations & Human Rights

• Human Rights in High-Risk Regions: Support resolutions requiring companies to respect international human rights standards and implement codes of conduct in countries with known human rights risks.
• Indigenous Peoples’ Rights: Support resolutions ensuring corporations respect Indigenous rights, conduct fair negotiations, and avoid exploiting natural resources.

Technology & Innovation

• Responsible AI & Automation: Support resolutions requiring companies to disclose governance, ethical frameworks, and risk mitigation strategies for AI and automated technologies, including fairness, bias prevention, and accountability measures.
• Data Centers & IT Infrastructure: Support resolutions requesting disclosure on energy use, carbon footprint, and sustainability practices for data centers, cloud operations, and other IT infrastructure.
• Social Media & Content Moderation: Support resolutions requesting companies to disclose policies and governance frameworks for content moderation, algorithmic transparency, and measures to prevent censorship bias.
• Corporate Technology & Surveillance: Support resolutions requesting companies to assess and disclose risks associated with the use of their technology for surveillance or monitoring, and to implement policies aligned with human rights, privacy, and ethical standards.

Corporate Governance

• Board of Directors: We will generally abstain from director elections unless sufficient information is available to assess qualifications or special circumstances (e.g., proxy contests, mergers) justify otherwise.
• Executive Compensation: We will support executive pay plans that are performance-based, aligned with long-term shareholder interests, and consistent with ESG and financial performance metrics. Oppose plans with unlimited discretionary awards or insufficient performance thresholds.
• Auditor Appointment: We will vote in line with management unless the auditor is deemed unqualified or conflicts exist.
• Employee Stock Ownership Plans (ESOPs): We will support ESOPs that promote active employee ownership and alignment with shareholder interests. We will evaluate each case on a case-by-case basis to determine whether the plan affects corporate control.
• Mergers & Acquisitions: We will evaluate on a case-by-case basis to ensure decisions reflect shareholders’ best interests.
• Authorization of Additional Shares: We will generally support authorization unless the issuance materially dilutes existing shareholders.